Binance Cryptocurrency Exchange Platform Lists USDC Stable Coin

Binance Cryptocurrency Exchange Platform Lists USDC Stable Coin

Binance cryptocurrency exchange announced that it will list USDC StableCoin.

Brief about USDC Stablecoin

USDC Coin (USDC), a regulated, US dollar-backed stable coin governed by CENTRE, an industry consortium co-founded by Coinbase and Circle.

Circle is a money services business registered with FinCEN. It is holding 48 US state money transmitter licenses. Circle was also the first recipient of the BitLicense issued by the New York State's Department of Financial Services (NYDFS). It is actively working with NYDFS to bring USDC to New York customers in a regulated way. Circle claims that more than 50 partners are onboard the USDC network since its launch in October 2018

Each USDC coin is a 1 to 1 (1:1) representation of a US dollar on the Ethereum blockchain.
Hence USDC coin maps to a single US dollar. USDC coin moves neither up or down relative to its reference currency, USD. USDC is 100% collateralized by a corresponding US dollar held in accounts subject to regular public reporting of reserves.

Cryptocurrencies such as Bitcoin, Ethereum and other Altcoins can extremely volatile. Some of them moving up and down by around a factor of 20 to 30 percent within a couple of hours. It is believed that stablecoins can help bring much-needed stability and predictability into crypto markets though this hypothesis remains to be tested to be true. Stablecoins are generally pegged against fiat currency like USD, EUR, CNY or JPY and sometimes against gold or oil.

This month, cryptocurrency and digital exchange platform have announced their support for major stablecoins. Liquid Crypto Exchange listed the USDC Stablecoin followed by CobinHood Cryptocurrency Exchange listing four major stablecoins including the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD).

Binance Cryptocurrency Exchange Platform and USDC Availability

To start with, USDC trading pairs on Binance will start with trading pairs viz. USDC/BNB and USDC/BTC at 2018/11/17 03:00 AM (UTC). The listing of USDC on Binance cryptocurrency exchange will further strengthen the crypto sector.


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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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